China has released BHP’s iron ore stockpiles at the port

Following the agreement with BHP Group, China has released the company’s iron ore stockpiles held in ports. Bloomberg reported this, citing sources.

The state-owned buyer, China Mineral Resources Group, has informed several steel mills that BHP’s ore stockpiles, including Jimblebar Blend Fines, will be released. The plants are required to report their raw material transactions to CMRG.

This move demonstrates how the issue of the company’s port ore stocks will be resolved. Previously, steel mills were allowed to receive new shipments of raw materials from BHP, but the situation regarding existing stocks remained uncertain.

According to estimates by Macquarie Group, the agency notes, approximately 23 million tons of BHP’s fine ore are currently stored in warehouses at about 47 Chinese ports. About half of this volume is Jimblebar.

As a reminder, BHP Group recently confirmed the conclusion of negotiations on iron ore supplies with China Mineral Resources Group (CMRG), thereby ending a months-long dispute between the parties.

Previously, Beijing had gradually tightened restrictions on BHP shipments amid the contractual dispute. On March 12, 2026, CMRG expanded the ban to include Newman fines. A week earlier, traders were ordered to purchase fewer new shipments of Newman fines, lump ore, and Mac fines, although the directive allowed the purchase of those grades of ore already stored in ports. Last September, the purchase of Jimblebar ore was banned, and in November, Jinbao products were banned.